(Are there lessons for New Mexico in this)
Texas’ economy, our 2018 GDP, was bigger than that of the entire nation of Canada; more than a fifth larger than that of Australia; greater than Asian-tiger South Korea, and; Texas 2018 GDP was 13% larger than Russia, a country that controls about 11% of the world’s land mass.
Texas’ about 28 million people produce an economy that is 44% larger than the 127 million people of Mexico. Texas economic production is only a third smaller than the United Kingdom and about half of European giant Germany.
So Pratt, what’s the point?
Many points can be made but one we should be making to the millions moving here that this relatively hot state has gone from a regional to a world economic power, ranked second in Chief Executive magazine for U.S. corporate headquarters only behind New York, over the last 30 or so years by being pro-business, pro-freedom, and anti-nanny state style government.
Just after I began working in the computer business in the early 1980’s, Texas went bust. The oil boom ended, the commercial real estate market balloon burst, we only had state banks with no branch banking and they went under one after another.
After that disaster, lead mostly by the philosophy of the emerging first modern Republican majority in the state, Texas massively diversified its economy. Politically what allowed this to be successful was resisting efforts to grow the power of government over the private sector. Instead Texas leaned heavily toward limited regulation and an entrepreneur-friendly tax regime.
We have been living through an historic Lone Star era but it is a trend than can be ended fast if new Texans are allowed to push social and political policy, locally or statewide, they bring from states that have already reversed a once “golden” or “empire” status.
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